Former president John Dramani Mahama has bemoaned the ballooning debt of the country as hindering investment and economic development projects.
Ghana’s debt to GDP at the end of 2022 stood at a staggering Ghc 577 billion. This, according to the Flagbearer of the National Democratic Congress , has made it difficult for the country’s economy to grow.
Addressing leaders of the Trades Union Congress today as part of his Building Ghana Tour, the former president revealed that in 2016, if you shared the public debt of 120 billion among 30 million Ghanaians, each Ghanaian owed Ghc 4,000, however, if you divided the debt of GHC577 billion by 30 million Ghanaians each person will owe Ghc 19,000.
The former president said, this coupled with the high unemployment rate, hyper-inflation, collapsing currency among others has worsen the challenges Ghanaians are facing.
Ghana | Atinkaonline.com | Bernard Lav